Guest Labtec Posted May 31, 2003 Share Posted May 31, 2003 For those of you blaming ACPA for the current mess just remember that in 15 years the management and BOD of this airline have nearly completely destroyed it. The IPO when AC went public, if memory serves, was $10. The stock has never split, it has never paid a dividend. Its high in 15 years was about 20 bucks. It is currently at about $1.75. Nice job Mr. Milton. The bond holders who held our corporate issue will be lucky to see 10 cents on the dollar if we pull out of CCAA or maybe less if we go into full bankruptcy. Nice job Mr. Milton. We spent roughly 1.25 billion taking over CAIL and fighting off Mr. Schwartz when the law clearly prevented what Schwartz had planned. This little endeavour has been assailed in business circles as pretty much the dumbest move in Canadian corporate history. Why would you spend 1.25 billion taking over an enterprise that was going to fail? Even Carty thought this was ridiculous. Nice job Mr. Milton. Then we had September 11th; tragic and very costly. What did our leader do? He went on a public rant claiming he needed 3-4 billion dollars or we wouldn't survive. Nothing like appearing like a raving lunatic in public while sitting as the head of a major federal undertaking. Since then they haven't let him anywhere near a camera or microphone. Nice job Mr. Milton. Pilot contract due to be negotiated. Uncle Milty says the model is broken we need to gut your contract. Here is your "Final Offer Of Settlement." He picked the lowest paid pilot groups in Canada to compare our wages to and said we needed to be paid the same. Three of the five companies he compared us to have gone out of business! Nice job Mr. Milton. Seven days before the sky fell under his leadership he gave the CUPE a 10% raise. Bob, didn't you know we didn't have the cash for this or were you bargaining in bad faith? Either way the optics are very bad. On one hand you may have acted duplicitously on the other you may appear incompetent. Nice Job. Tango, Zip, ACJETZ, a merged JIZZ and this will save us he said. Tragically we are now in CCAA as a result. Nice Job Mr. Milton. The new mana from heaven? Point to point in 75 seat Rj's flown by connector pilots. If you have been in this business any length of time you can be sure that this plan that looks good today will fail tomorrow. The companies that successfully do point to point use 737's or 320's and have no regional subsidiary. Who is Southwest's regional connector? Oh ya they don't have one. How about JETBLUE? I forgot, they don't have one either. Who does the feed for Westjet? [sound of the buzzer on Jeopardy] NOBODY! Nice job Mr. Milton And here we sit. On the eve of destruction with the crabs in the bucket turning on one another all the while the puppeteer who got us here refuses to release details of his compensation package or that of his five senior managers. He does this in contravention of OSC regulations. Why? Well I think you folks know the answer to that question. It is the same reason Carty didn't publicly announce the 45 million dollar top up to the executive pensions at American. Where does Carty work now? Ah yes it was ACPA that destoyed shareholder equity. It was ACPA that has destoyed bond holder equity. It was ACPA that has stiffed the airport authorities, the crew transportation companies, Cara, Nav Canada, the fuellers and a long list of others. I am sure it was ACPA that came up with the silly scorched earth policy that has sought to kill off any and all competition in Canada. ACPA, those evil men and women sitting in the front of those grand flying contraptions, it must have been them. 256 million dollars from 3490 pilots. Ya that's fair. It works out to exactly $73352.44 per pilot. Since my T4 last year was a whopping $72456.84 I'd have to pay Bobby $895.60 per year just to work here. Nice job Mr. Milton. Somehow I think it is Milton and his rabble that will be looking for work when the smoke clears. My guess is the golden parachute was packed by the man himself. You people can blame ACPA for this mess but that is exactly what the puppeteer wants you to do. There is nothing like watching the crabs in the bucket duke it out. As I said in an earlier post that's it for me I am getting out of the bucket I've seen enough. Labtec Link to comment Share on other sites More sharing options...
Guest CabinDweller Posted May 31, 2003 Share Posted May 31, 2003 “…that's it for me I am getting out of the bucket I've seen enough.” - Labtec Voting not to accept, ‘nother airline, retirement or just taking some time off from the Forum??? Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.